Far Northern Resources (ASX: FNR) has initiated a maiden drilling campaign at its Bridge Creek gold project, located in the Northern Territory. The program aims to build upon historically significant gold intersections and expand the existing mineralisation. Previous drilling in 1996 by Northern Gold yielded promising results, including intercepts of 14 meters at 2.46g/t gold, 16 meters at 1.90g/t gold, and 23 meters at 3.33g/t gold, achieved when gold prices were around $366 per ounce.
Far Northern aims to increase the existing inferred resource at Bridge Creek, currently estimated at 1.97 million tonnes grading 1.12g/t for 70,560 ounces of gold. The project benefits from granted mining leases within the Pine Creek Geosyncline. CEO Cameron Woodrow emphasized that the current drilling will provide greater insight into the Bridge Creek project’s potential, especially considering current gold prices exceeding $4,500 per ounce. The drilling program will focus on upgrading inferred resources to indicated status and extending mineralisation along strike and at depth. The company plans to use the updated resource estimate to conduct mining studies, including pit optimization, hydrogeological, and geotechnical assessments, with the ultimate goal of calculating an ore reserve.
